NTT DoCoMo has deferred its open offer for Tata Teleservices following a delay in approval from the Indian securities regulator.
According to the Financial Express, DoCoMo said in announcement to the shareholders of TTML that its offer of a 20% stake in the firm has been postponed, 'till further notice in this regard is published by the Manager to the Offer'.
A revised schedule would be announced after the plan gets regulatory approval, DoCoMo said.
The open offer, by DoCoMo along with Tata Sons, was slated to begin on January 8 and close on January 27 next year.
NTT DoCoMo said in November it would pay $2.7 billion for a 26% stake in unlisted Tata Teleservices, giving it a stake in the world's fastest-growing mobile market.
DoCoMo is making an open joint tender offer with Tata Sons, the holding firm of the group, to buy up to 20% in the listed unit of Tata Tele. The offer price has been fixed at 24.70 rupees ($0.5) per share.
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